From One to 14 Bowling Centers with SBA Financing
In 2000, Larry Schmittou started L&S Family Entertainment, LLC ( L&S). In 2009, Mr. Schmittou wanted to expand beyond one bowling center. In 2017, Mr. Schmittou again wanted to expand this business with additional centers
To purchase a new bowling center, L&S was approved for a $1.6 million SBA guaranteed loan from Columbia State Bank in 2009. To purchase additional bowling centers, L&S was approved for six additional loans under the SBA 504 Loan Program.
L&S started with one bowling center in 2000 and now has 14 centers in four states. In 2000, L&S began with 20 employees and today has 419 employees. L&S went from $18.2 million in sales in 2015 to over $20 million in 2017. In 2018, L&S increased hourly wages for their employees and awarded larger bonuses to managers for excellent performance as a result of the Tax Cuts and Jobs Act of 2017.